Basilea Pharmaceuticals’ shares extended gains on Thursday, rising 3% to CHF 64.30, the highest level since August 2018, following robust first-half results.
The Swiss biopharma company’s stock had already climbed up to 8% on Tuesday after it reported first-half revenue that surpassed expectations. Analysts attributed the outperformance to stronger-than-anticipated licensing fees and product sales, particularly through global distributors. Zurich Cantonal Bank noted the upside surprise, which contrasted with prior guidance.
Basilea’s business model relies on licensing its drugs to large pharmaceutical partners rather than self-marketing, enabling cost-efficient operations while advancing multiple projects simultaneously. The company’s flagship product, Cresemba—a treatment for severe fungal infections—remains the primary revenue driver. Global in-market sales for Cresemba rose 27% to approximately $782 million in the first half, according to Tuesday’s results. Chief Executive David Veitch highlighted that the growth stemmed from market share gains rather than overall market expansion, with double-digit growth continuing in the U.S. despite the drug’s decade-long presence.
Looking ahead, Basilea faces a key challenge: the upcoming loss of exclusivity. In the U.S., patent and exclusivity protections for Cresemba are set to expire in the fourth quarter of 2027, while European generics are expected to enter the market from the second half of 2028. Veitch emphasized that the transition would not trigger an abrupt revenue decline but would cap growth. The company anticipates a revenue peak in 2027, followed by a gradual decline as its newer drug, Zevtera—launched in the U.S. in July 2025—takes on a larger role in offsetting the gap.
